There is an update on the BNM website regarding Pips. I have copied and pasted it below:
PureInvestor.com Inc. and its Related Companies
Bryan John Marsden and Phan Sew Ken, directors of PureInvestor.Com Inc. and its related companies were charged separately at a Malaysian Sessions Court on 30 August 2006 for engaging in money laundering by receiving money which are proceeds from unlawful activities, an offence under section 4(1) of Anti-Money Laundering Act 2001 read together with section 87(1) of the same Act.
The court has fixed 13 and 30 September 2006 for mention.